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Just closed: AEW raises $640m

AEW has held a final close on its Value Investors Asia Fund II at $640.2 million, surpassing the $500 million target set at launch in May 2014. Of this, $50 million is made up of co-investment capital. Investments will be made across key cities in Asia-Pacific, mainly Singapore, Hong Kong, Seoul, Sydney and Shanghai.

The fund's predecessor closed in August 2008 at $557.8 million.

US and European based firms make up the investor base, which can be broken down into public and corporate pension plans and insurance firms. California State Teachers' Retirement System and the Teacher Retirement System of Texas both committed to the fund.